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Palo Alto, California, April 10, 2018: Armis, the enterprise IoT security company, today announced it had raised US $30 million in Series B funding.
Red Dot Capital Partners, a Temasek-backed Venture Capital fund based in Israel, focused on growth-stage tech companies, led the round with Bain Capital Ventures joining. Sequoia Capital and Tenaya Capital also participated as return investors.
Armis said in a press statement that it would use the investment to meet demand for advanced security technologies that allow enterprises to secure IoT-related digital transformation efforts, expand sales and marketing, and further develop its device knowledgebase and security platform. This investment brings the company’s total funding to US $47 million.
“IoT is changing the connected world, creating new attack surfaces across the enterprise in every major vertical,” said Jeff Williams, Operating Partner at Bain Capital Ventures. “Rapid growth in connected devices coupled with advancements in the threat landscape demand that companies secure their new IoT reality. Armis has an impressive customer list, and is uniquely positioned to discover, manage, and secure these unseen and unprotected IoT assets.”
Armis eliminates the Enterprise IoT security blind spot, letting enterprises safely embrace IoT as a part of their digital transformation strategies. Its “agentless” security solution delivers comprehensive visibility of every device in their environment, analyzes and classifies devices and their behavior in order to identify risks or attacks, and protects critical information and systems. Armis does not require any hardware and integrates seamlessly into any environment or existing infrastructure.
Armis was founded in late 2015 and is headquartered in Palo Alto with offices in Tel Aviv.
Image Credit: Armis